Antitrust regulators clear BofA-Merrill deal

October 15, 2008 7:52:24 AM PDT
Federal antitrust regulators say they have cleared Bank of America's $34.9 billion purchase of Merrill Lynch & Co. Inc. The deal, announced Sept. 15, is part of the rapid restructuring of the U.S. financial system in the face of the global credit crisis.

Merrill agreed to be bought by Charlotte, N.C.-based Bank of America Corp. just days after rival investment bank Lehman Brothers filed for bankruptcy protection.

The Federal Trade Commission says antitrust regulators have approved the transaction.